The Story of the Atlantic Telegraph

This happy result was duly celebrated, in the manner which all Englishmen approve, by a grand dinner given by the commissioners of the new Company, to the members of the Assembly and other dignitaries of the colony, at which there were eloquent prophecies of the good time coming, showing how heartily the enterprise was welcomed by all classes; and how fond were the anticipations of the increased intercourse it would bring, and the manifold benefits it would confer on their long-neglected island. No sooner were the papers signed, than the wheels, so long blocked, were unloosed, and the machinery began to move. Mr. White at once drew on New York for fifty thousand dollars, and paid off all the debts of the old company. A St. John's newspaper of April 8th, 1854, amid a great deal on the subject, contains this paragraph, which is very significant of the dead state of the old company, and of the life of the new: "The office of the new Electric Telegraph Company has been surrounded the last two or three days by the men who had been engaged the last year on the line, and who are being paid all debts, dues, and demands against the old association. We look upon the readiness with which these claims are liquidated as a substantial indication on the part of the new Company that they will complete to the letter all that they have declared to accomplish in this important undertaking." In the early part of May, the two gentlemen who had remained behind in Newfoundland rejoined their associates in New York, and there the charter was formally accepted and the Company organized. As all the associates had not arrived till Saturday evening, the 6th of May, and as one of them was to leave town on Monday morning, it was agreed that they should meet for organization at six o'clock of that day. At that hour they came to the house of Mr. Field's brother Dudley, and as the first rays of the morning sun streamed into the windows, the formal organization took place. The charter was accepted, the stock subscribed, and the officers chosen. Mr. Cooper, Mr. Taylor, Mr. Field, Mr. Roberts, and Mr. White were the first directors. Mr. Cooper was chosen President, Mr. White, Vice-President, and Mr. Taylor, Treasurer.